Apple’s $37 plus, 6.43 percent sell off was surreal. The world’s largest and most profitable company giving up almost $40 billion of market value while the rest of the market basically yawned? That doesn’t happen often.

The Apple selling on big volume could have been used to finance a move into the financials. Bank of America was up over 5 percent and Citicorp tacked on over 6 percent.

Apple sits right at its .618 Fib retracement of the $88 bounce from $505.75. We still think they will be blow out this quarter’s earnings, but the stock is over owned and the bears know it.

Thus technicals will dominate Apple in the short-term, especially with the Vampire Cross (death cross) staring traders in the face. The 50-day moving average looks to crossover the 200-day in the next week.